On November 11, 2015 the Extraordinary General Meeting decided to retain the Company’s net profit for 2014 of PLN 2.258.996,95 as the reserve capital of the Company.
On May 11, 2015 the Annual General Meeting decided to take a decision on the adoption of the resolution concerning the distribution of profits at the Extraordinary General Meeting convened not later than 30 October 2015.
On May 6, 2015 was received, pursuant to art. 401 § 4 of the Commercial Companies Code by its shareholder, holding 49.66% of shares in the share capital, ie. Euro Investor Sp. with o.o with its seat in Warsaw (the "Shareholder"), a draft resolution at the next General Meeting convened for 11 May 2015. (Current Report No. 7/2015 of 10 April 2015. concerning item 9 of the agenda of the General Meeting, ie. take a resolution on distribution of profit for 2014 and to set the dividend date and dividend payment date). The subject of the draft resolution filed by the shareholder to decide on the adoption of a resolution on distribution of profit at the next Extraordinary General Meeting convened not later than 30 October 2015.
On April 27, 2015 the Supervisory Board passed a resolution positively evaluating the request of the Board on the distribution of the net profit from operations of Trans Polonia SA, but after discussing investment plans of the Company for the year 2015, the Supervisory Board recommends that the decision on the adoption of the resolution concerning the distribution of profit at the next Extraordinary General Meeting to be held in the second half of 2015.
On 20 March 2015 the Management Board of Trans Polonia S.A. approved a resolution on the proposal of the Management Board on the distribution of the Company’s net profit for 2014 and on setting the ex-dividend date and the dividend disbursement date.
In accordance with the Resolution, the Company’s Management Board proposes as follows: a part of the Company’s net profit for 2014 of PLN 1,019,335.20 (PLN one million nineteen thousand three hundred thirty five and 20/100) - PLN 0.16 per share to distribute as dividend among the Company’s shareholders while a part of the Company’s net profit for 2014 of PLN 1,239,661.75 (PLN one million two hundred thirty nine thousand six hundred sixty one and 75/100) to retain as reserve capital of the Company. The Company’s Management Board proposes to set 11 June 2015 as the ex-dividend date and 26 June 2015 as the dividend disbursement date.
The number of shares eligible to dividend will be 6,370,845. The shares of the Company eligible for dividend shall be reduced by the number of treasury shares held by the Company. The above proposal on profit distribution with a positive opinion of the Supervisory Board will be submitted to the Company’s Ordinary General Meeting by the Management Board.
The proposed dividend accounts for 45.12% of the net profit of Trans Polonia S.A. for 2014.